SBA Loan from Pacific Western Bank Helps Health Practitioners Company
Pacific Western Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.
This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Pacific Western Bank, out of Huntington Beach, California. The loan was granted and they received $150,000 to help grow their Pasadena, California business.
SBA Loan Borrower
COMPANY TYPE: HEALTH PRACTITIONERS
PASADENA, CA 91101
SBA Loan Lender
PACIFIC WESTERN BANK
19950 BEACH BLVD
HUNTINGTON BEACH, CA 92648
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621399 - Health Practitioners
Loan Approval Date
12/17/2002
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 20 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans provide money to small business owners for working capital for other expenses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
Obtaining Funding - Getting Venture Capital
Where to Get an SBA Loan in Huntington Beach, California
Getting a Business Loan in California